Egypt seeks more Saudi investments

Updated 07 January 2013
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Egypt seeks more Saudi investments

Foreign Minister Prince Saud Al-Faisal yesterday emphasized the need to expand Saudi-Egyptian joint investments. “There are lots of opportunities in both countries to increase investment,” he told reporters after talks with his Egyptian counterpart Mohamed Kamel Amr.
Amr also stressed investment opportunities for Saudis in his country. He indicated that many countries doubled their investments in Egypt last year, adding that it amounted to $ 5 billion. “We give priority to energy and renewable energy projects not only to meet local needs but also to export to Europe,” he added.
“We welcome Saudi investments in these projects. We have discussed prospects of trilateral investment cooperation in big projects in neighboring countries,” he said while explaining Cairo’s efforts to solve most problems facing Saudi investors. “Our government is committed to protecting foreign investment,” he added.
Asked whether they had discussed Saudi-Egypt Causeway, Prince Saud said: “We have not discussed it because there are other matters that deserve priority. God willing, we’ll take measures on the causeway later.”
Amr said he had presented to Crown Prince Salman, deputy premier and minister of defense a message from President Muhammad Mursi to Custodian of the Two Holy Mosques King Abdullah, inviting the king to attend the OIC summit in Cairo next month.


Houthi missile fired towards Jazan intercepted by Saudi air defenses

Updated 24 May 2018
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Houthi missile fired towards Jazan intercepted by Saudi air defenses

  • The missile was fired towards the Saudi Arabian province of Jazan in the early hours of Thursday
  • It was launched from the Houthi strong-hold in the Yemeni province of Saada

DUBAI: Saudi air defenses intercepted a ballistic missile fired by the Houthi militia towards the border province of Jazan in the early hours of Thursday morning, Al Ekhbariya TV reported.

The ballistic missile was launched from the Houthi strong-hold province of Saada.

The missile was spotted at 1:58am on Thursday and was headed towards Jazan city, targeting civilian and populated areas.

The Saudi Royal Air Force (RAFF) was able to intercept the missile and destroy it.

The Iranian-backed Houthis have fired a number of missiles over the border at Saudi cities, including the capital, Riyadh, in breach of international laws banning the targeting of civilian areas.

And on Wednesday UAE coalition forces intercepted two boats in the Red Sea being used by the Houthis to target a tanker.